Bitcoin 

Bobby Lee confer China’s Bitcoin Exchange Ban and Segwit2x

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month.

BTCC chief executive Bobby Lee does not think China currently has any plans to ease its hostile stance on domestic bitcoin exchanges, nor does he intend to reverse his support for the controversial SegWit2x hard fork that is scheduled to activate this month.

Lee made these statements during an Ask Me Anything (AMA) held on the BitcoinMarkets subreddit. Although the AMA touched on a number of topics, the vast majority of questions related to SegWit2x and the future of bitcoin in China.

SegWit2x & the New York Agreement

The SegWit2x hard fork, originally put into motion by the New York Agreement (NYA) and scheduled to activate in approximately two weeks, was the preeminent topic of discussion. BTCC — best known for its bitcoin exchange and mining pool — is an NYA signatory, and many participants wanted to know whether Lee intended to continue supporting SegWit2x, and if so, how BTCC intended to treat the incumbent blockchain following the fork.

Lee reaffirmed BTCC’s commitment to the NYA, stating that he believed bitcoin should continue to scale on-chain as well as through second-layer solutions. Because he considers SegWit2x to be a planned upgrade to the bitcoin protocol, he brushed off concerns that its developers should implement replay protection, which would ensure that there is a clean break between the incumbent and forked blockchains following SegWit2x activation.

Related posts

Leave a Reply